Politicians and bureaucrats clearly have no idea how complicated markets are. Every day people make countless tradeoffs, in all areas of life, based on subjective value judgements and personal information as they delicately balance their interests, needs and wants. Who is in a better position than they to tailor those choices to best serve their purposes? Yet the politicians believe they can plan the medical market the way you plan a birthday party.
John StosselI saw how the regulation I called for made things worse, didn't help consumers and simple competition was better. And I started praising business and occasionally criticizing regulation.
John StosselCentral authority is bad. The bias should be for freedom. And without a central authority, there are lots of little authorities, and we learn which ones to trust.
John Stossel